by Ahmed Allam
Cairo – Mubasher: The Central Bank of Egypt kept the pound exchange rate unchanged against U.S dollar at 8.78 during a regular dollar auction held on Tuesdays, said two treasury officials preferred to remain anonymous.
Egypt’s bank sold $120 million dollar to local banks on Tuesday at the previous exchange rate.
However and for the first time ever, Egyptian pound fell to a record by 5 piasters against U.S dollar in the black market to stand at 10.60 or 10.65 for selling and at 10.70 or 10.75 for buying, according to three traders.
Meanwhile, the official exchange rate still stands at EGP8.83 per dollar for buying and EGP8.88 per dollar for selling, according online data by the Central Bank of Egypt.
Translated by Ahmed El-Sayed Ali
